Clients will be much better off asking “If markets are weak, what will that look like, when should we do something, and what will we do then?”, “If they are average what will that look like and what will we do then?”, and “if they are strong, what will that look like and what will we do then?”
Life is not a “set it and forget it” proposition. Neither is financial planning. Preparing is better than predicting. Software and academic studies are just tools to be used to make sure our preparations have some basis in reality.
Dan Moisand, CFP, has been featured as one of America’s top independent financial advisors by Financial Planning, Financial Advisor, Investment Advisor, Investment News, Journal of Financial Planning, Accounting Today, Research, Wealth Manager, and Worth magazines. He practices in Melbourne, FL. You can reach him at [email protected]